Single Family Landlords Buying, not Building

Posted To: MND NewsWire

One of the sea changes that swept in with the housing crisis was the growth of single family houses as a share of rental properties . Frank Nothaft, Senior Economist at CoreLogic said last summer that single family houses at that point represented 40 percent of the rental stock. This is notable especially since apartment houses constituted only 42 percent. Nothaft estimated that about three million formerly owned-occupied single-family homes were purchased and turned into rental properties between 2006 and 2013. Many of those homes were distressed properties bought at foreclosures, from lender inventories of REO, or as short sales. Even as that supply of properties shrinks Freddie Mac said last month that the appetite of large investors for single family housing appears to be increasing. In...(read more)

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